October Comps Better than Expected

Comp sales for October exceeded target, the Johnson Redbook reported last week.

The Johnson Redbook Retail Sales Index for the month showed a comp gain of 0.7% compared to a target of 0.3%. It was just the second time the Index has shown a positive comp for the month since October 2008. The other positive month, April, showed a comp increase of 0.5%.

Comps in the fourth and final week of the month rose 0.9% driven primarily by a 2.6% increase at discount stores. Department store comps fell 2.1% for the week.

“Halloween business was satisfactory, although its effects were not uniform given the difference in retailers' exposure to this merchandising driver,” said Catlin Levis, Redbook analyst.